House Minority Whip Eric Cantor (R-Va.) said that the Obama administration's yet-to-be-announced $50 billion plan to stem home foreclosures may only add to the country's fiscal and housing problems."Skyrocketing property taxes"? Has somebody explained to Cantor that with home values plummeting a good 20% or more in the last year, the assessed taxes on what those homes are worth are also plummeting? Isn't the fact that property taxes are falling so precipitously along with home values a major reason why states like Kansas and California are going broke?
Cantor, on CBS on Monday, worried that another government program could hurt taxpayers. Obama is expected this week to unveil a plan to help prevent foreclosures, perhaps by giving federal subsidies allowing reductions in mortgage payments. Though Cantor said he supported some sort of government effort to to get lenders to lessen payments, he expressed concern about the program's price tag.
"Homeowners, right now, are suffering under skyrocketing property taxes. And if we put the bill for $50 billion plus on top of all the bills that families have right now, you may very well be set to encourage more foreclosures," said Cantor.
Cantor said that the vast majority of U.S. families are keeping up with mortgage payments and are wondering who will pay for the "continued succession of bailouts.
Or is he really this effing stupid because the House GOP has no intention of ever working with Obama on any issue whatsoever?
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